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Morrissey has said of the song: "It occurred to me that within popular music if ever there were any records that discussed marriage they were always from the female's standpoint, female singers singing to women. There were never any songs saying 'do not marry, stay single, self-preservation,' etc. I thought it was about time there was a male voice speaking directly to another male saying that marriage was a waste of time ... that, in fact, it was absolutely nothing."[3]

The song is popularly believed to have been about Morrissey's short-lived friendship with Billy Mackenzie, lead singer of the Associates. The Associates' compilation album Double Hipness, released in August 2000, included the song "Stephen [sic], You're Really Something", recorded by Billy MacKenzie and Alan Rankine during the band's reunion in 1993 as a response to "William, It Was Really Nothing".